Most local startups are still very early-stage, while foreign companies are making significant moves across industries.
Pakistan, with just 193.2M people in 2016, is rapidly digitizing. While the country’s population is only a little more than a tenth as big as India, the number of people using the internet in the country grew nearly 22% between 2016 and 2017, making Pakistan one of Asia’s fastest-growing internet markets.
But while India’s huge population and growing internet penetration has brought lots of investor interest to the country’s burgeoning tech ecosystem, Pakistan has stayed under the radar.
Despite the pace of digitization in Pakistan, the tech industry is still quite nascent. The biggest round yet is still incredibly small compared to global highs — $55M in a Series A to e-commerce site Daraz in Q3’15, which made it the most well-funded tech company in the country.
While the country’s tech ecosystem is still emerging, investors and foreign companies are positioning themselves early, as more people come online. Many of the country’s most popular digital services are local offerings from foreign companies.
We used the CB Insights platform to identify the industries getting the most attention from local and foreign companies and investors, and helping push Pakistan’s tech ecosystem along.